NO MORE INVITES: Soon everyone will be able to buy one of the hottest Android phones of the year

The OnePlus logo on the back of the OnePlus 2 OnePlus OnePlus announced on Wednesday that people interested in buying the new OnePlus 3 smartphone won't need an invite from the company to buy the phone like they used to with previous models.

The OnePlus 3 will launch on June 14 for all to buy. You can get it from the online OnePlus store starting at 3 p.m. ET.

However, those who "attend" OnePlus' virtual reality launch event can buy the OnePlus 3 two and a half hours earlier, at 12 p.m. ET, through the Loop VR platform during the launch event. This event also marks the first time people can buy physical products from a VR platform.

The fact that OnePlus is ditching the invite system is a huge deal. While it created huge demand for OnePlus smartphones due to the rarity of an invite, it left a lot of people who wanted OnePlus smartphones in the dust.

The demand the invite system generated was enormous. It helped make OnePlus phones garner a similar sort of interest that Apple garners with the iPhone. Long lines of people would form outside of pop-up OnePlus locations in the hopes of getting an invite to buy the latest OnePlus phone, and that's pretty impressive from a small Chinese company that was founded in late 2013.

It's unclear if the abolished invite system will decrease demand now that everyone can buy the latest OnePlus smartphone, but that wasn't the only thing going for OnePlus phones.

People queueing outside of a popup OnePlus location in London. OnePlus

OnePlus smartphones are comparatively inexpensive, as they offer high-end specs for extremely low prices. The OnePlus One and OnePlus 2 phones, for example, cost $300.

OnePlus hasn't revealed any details about the OnePlus 3's pricing; same goes for any of its specs or features. But as with any coveted device, there are some rumors we've heard.

The most recent leaks come from Chinese tech site MyDrivers.com, and they claim the OnePlus 3 will have a 1080p 5.5-inch AMOLED display. Even though that's the same resolution as the OnePlus 2's LCD display, an AMOLED display would still look better.

The OnePlus 2. Steve Kovach/Tech Insider The same MyDriver.com report also suggested the OnePlus 3 will run on the latest Qualcomm Snapdragon 820 processor and a good 4GB of RAM, which would make for smooth and speedy performance. It will also apparently have a fingerprint sensor on the home button like the OnePlus 2.

The rear camera is said to have 16 megapixels. Megapixel count means relatively little in the camera world, and only a camera test will decide whether the OnePlus 3's camera has what it takes.

And finally, the OnePlus 3 may come in two storage options: 32 and 64GB. If true, that means OnePlus ditched the 16GB option, which is realistically too little storage for most modern uses, like taking a lot of pictures, recording high-resolution video, and using several apps.